Abstract

A year ago a barrel of Brent Crude oil would have cost $107. Today it sells for just above $50 [the price of Brent Crude has since recovered to $60 per barrel as at the time of writing - Editor]. The recent oil price decline has allowed the inland petrol price to fall yet again to R10.09 per litre as of 4 February 2015 - a cumulative 28% drop from its level six months ago.